Share and Unit Information

3 Months Ended

Mar. 31, 2013

Notes To Financial Statements [Abstract]

Share and Unit Information

Share and Unit Information

On March 31, 2013, 42,683,322 common shares and 1,707,660 operating partnership units were issued and outstanding, representing a total of 44,390,982 shares and units. At March 31, 2012, 40,940,360 common shares and 1,935,708 operating partnership units were outstanding, representing a total of 42,876,068 shares and units. There were no outstanding options as of March 31, 2013 and March 31, 2012.

On August 26, 2010, we and our Operating Partnership entered into distribution agreements with Cantor Fitzgerald & Co., Raymond James & Associates, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated pursuant to our at-the-market offerings or negotiated transactions through a controlled equity offering program, or ATM for a combined total of 6,000,000 shares of our common stock. On February 25, 2013, we and our Operating Partnership entered into distribution agreements with J.P. Morgan Securities LLC, BMO Capital Markets Corp., KeyBanc Capital Markets Inc. and UBS Securities LLC to sell up to 4,500,000 shares of our common stock with materially the same terms as our previous ATM agreements.

During the three-month period ended March 31, 2013, we issued 325,166 shares through our ATM programs for net proceeds of $22.0 million. The gross proceeds for these issuances were $22.3 million. During the three-month period ended March 31, 2012, we did not issue any shares through our ATM programs. We have 4,174,834 shares remaining under our ATM program as of March 31, 2013.

On March 2, 2012, we closed on an underwritten public offering of 1,955,000 shares of common stock. UBS Investment Bank and Jefferies & Company, Inc. acted as joint bookrunning managers. We received net proceeds of approximately $120 million after underwriter discounts. The gross proceeds for this offering were approximately $124.1 million. We had no such offerings during the three-month period ended March 31, 2013.

During the three-month period ended March 31, 2013, we issued 141 shares of common stock through the optional cash purchase feature of our Dividend and Distribution Reinvestment and Share Purchase Program, or DRSPP. The issuances resulted in gross proceeds of approximately $10,000. During the three-month period ended March 31, 2012, we issued 120 shares of common stock through the optional cash purchase feature of our DRSPP resulting in gross proceeds of approximately $8,000.

During the three months ended March 31, 2013, 4,582 shares of our common stock were acquired from employees to satisfy minimum tax withholding obligations that arose upon vesting of restricted stock granted pursuant to approved plans. During the three months ended March 31, 2012, 15,565 shares were acquired for these purposes.